Ameriprise Financial Inc. Has $248.08 Million Stock Position in General Motors Company $GM

Key Points

• Ameriprise Financial Inc. has reduced its stake in General Motors by 1.2%, selling 62,080 shares and retaining approximately 5.27 million shares valued at $248 million.
• Insider selling was reported, with CAO Christopher Hatto and EVP Rory Harvey significantly decreasing their positions in General Motors, selling over 60,000 shares combined.
• General Motors recently declared a quarterly dividend of $0.15, to be paid on September 18th, representing an annual yield of 1.0%.

Ameriprise Financial Inc. lessened its position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 1.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,274,709 shares of the auto manufacturer's stock after selling 62,080 shares during the period. Ameriprise Financial Inc. owned approximately 0.55% of General Motors worth $248,077,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Susquehanna Fundamental Investments LLC acquired a new stake in shares of General Motors in the 4th quarter worth about $25,404,000. Cassia Capital Partners LLC increased its holdings in shares of General Motors by 63.0% in the 1st quarter. Cassia Capital Partners LLC now owns 18,683 shares of the auto manufacturer's stock worth $879,000 after acquiring an additional 7,221 shares during the period. AustralianSuper Pty Ltd increased its holdings in shares of General Motors by 38.9% in the 1st quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock worth $287,428,000 after acquiring an additional 1,712,033 shares during the period. Sowell Financial Services LLC acquired a new stake in shares of General Motors in the 1st quarter worth about $312,000. Finally, Malaga Cove Capital LLC acquired a new stake in shares of General Motors in the 1st quarter worth about $292,000. Institutional investors and hedge funds own 92.67% of the company's stock.

Insider Activity at General Motors

In other General Motors news, EVP Rory Harvey sold 23,977 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total value of $1,271,020.77. Following the completion of the transaction, the executive vice president directly owned 8,513 shares in the company, valued at $451,274.13. This trade represents a 73.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Christopher Hatto sold 36,804 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $55.10, for a total transaction of $2,027,900.40. Following the completion of the transaction, the chief accounting officer owned 12,007 shares of the company's stock, valued at approximately $661,585.70. The trade was a 75.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Benchmark initiated coverage on shares of General Motors in a report on Monday, July 21st. They issued a "buy" rating and a $65.00 price objective on the stock. Industrial Alliance Securities set a $70.00 target price on shares of General Motors in a research note on Friday, July 11th. Citigroup raised their target price on shares of General Motors from $59.00 to $61.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. UBS Group raised their target price on shares of General Motors from $50.00 to $56.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Finally, Wells Fargo & Company raised their target price on shares of General Motors from $34.00 to $38.00 and gave the company an "underweight" rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $58.05.

General Motors Price Performance

Shares of GM traded up $0.52 during mid-day trading on Tuesday, hitting $58.80. The company's stock had a trading volume of 7,303,272 shares, compared to its average volume of 11,667,913. The firm has a 50-day moving average price of $52.69 and a 200 day moving average price of $49.29. The stock has a market capitalization of $55.98 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 1.23 and a beta of 1.36. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.22 and a quick ratio of 1.05. General Motors Company has a fifty-two week low of $41.60 and a fifty-two week high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.01. The company had revenue of $47.12 billion for the quarter, compared to analysts' expectations of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The business's revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.06 EPS. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. On average, research analysts predict that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, September 5th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. General Motors's payout ratio is currently 9.52%.

About General Motors

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.